The company reported revenue of $1.1 billion last year, same as the last year and just short of Wall Street analysts' expectations.
"That's nowhere near the level of growth expected of one of the most-visited websites in the world.
Profit is going in the wrong direction: Yahoo earned $229 million during the quarter, down 4% from the same period a year ago.
"Despite all of its Web traffic, Yahoo's market value is basically on par with the value of its Asian assets. The rest of the Yahoo -- according to investors, anyway -- is more or less considered scrap." (http://money.cnn.com/2012/07/17/technology/yahoo-earnings-mess/index.htm?source=cnn_bin)
Yahoo certainly knows it has a crisis, and apparently has identified specifically what it is. Good start. The question is, will the company make the right decisions to diffuse the crisis and become an internet darling again? The last three CEOs couldn't fix it. The business world will be watching with great interest to see if Mayer has better success.